Social Security 2024 Increase For Seniors. No matter what 2024's social security cola ends up being, seniors should be aware that a hike in medicare part b premiums has the potential to whittle that raise. The maximum amount of earnings subject to social security payroll taxes was $168,600 for 2024, up from $160,200 in 2023.
The social security administration’s annual cost of living adjustment for 2024 is 3.2%, reflecting a more moderate rate of inflation than the price jumps that. The maximum amount of earnings subject to social security payroll taxes was $168,600 for 2024, up from $160,200 in 2023.
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